With respect, it doesn't sound like you have done your research...

With respect, it doesn't sound like you have done your research nor do you have a good understanding of the financial planning industry and current challenges.

Firstly, financial planners are accountable for compliance and signing off on final SoA's, not SoA providers. IAM, for example, do not provide financial advice and do not carry an AFSL nor are they an Authorised Representative of any AFSL holder. They take the advice and recommendations framed by the planner as inputs into the SoA, and it is the planner who is ultimately accountable for assuring any advice documentation and face to face advice interactions for adequate and individualised financial advice. If Dover has 3 lawyers inspecting each and every SoA, good on them but it sounds very resource intensive, expensive and overboard since they themselves are not ultimately accountable for ensuring that advice properly considers the client's current circumstances and goals. IAM is a software and tech company with financial planning experience and expertise and that is their edge. On the flip side, the big fish may have a lot of money and resources, but they don't have the technological expertise to get it right.

Second, you are right that the big fish have a lot of resources that they can commit to compliance, but if you are current on industry news, you will know that they are not getting it right and they are literally paying for it with millions of dollars in fines for poor client outcomes such as providing bad advice and charging clients for advice and periodic reviews that were not delivered. With the royal commission announced today, no doubt big fish will be moving to demonstrate change and improved compliance measures.

Third, Klip does not generate SoA's. Klip is a real-time enterprise reporting dashboard and reporting platform that provides an integrated view of a financial advisor network's operational performance through key metrics. It provides network visibility and transparency using measurable kpi's and it is an industry first big data product. It is Lilly that generates SoA's (using AI and robotics) based on inputs provided by qualified financial planners.

Later dude